Miami (October 19, 2026) – BGO, a leading global real estate investment manager, and Banner Property Group, a real estate owner and operator with deep experience in cold storage investments, today announced the acquisition of 12345 NW 38th Avenue in Opa-Locka, Florida, an existing, approximately 160,000 sq. ft. cold storage facility within the North Miami submarket. The property is fully leased to a food distributor serving customers across the United States, Latin America and the Caribbean.
The acquisition reflects BGO and Banner’s conviction in strategically located cold storage infrastructure serving South Florida’s food distribution network.
“This acquisition adds a highly functional cold storage asset to our growing portfolio in an important South Florida distribution market where specialized infrastructure, connectivity and infill locations are difficult to replicate,” said Kevin Rivest, Managing Partner, BGO. “We are pleased to partner with Banner Property Group and look forward to applying our respective cold storage experience to enhance the property’s long-term performance and resilience.”
Banner Property Group was founded in 2021 and is led by principals with extensive experience investing in and operating cold storage properties. The firm has an existing footprint in Florida including temperature-controlled food distribution facilities, providing localized operating knowledge to the partnership.
Jason Eisenberg and Albert Kim of Banner Property Group added “We are excited to partner with BGO on this acquisition. It is highly consistent with Banner’s investment strategy focused on infill properties and continues to grow our portfolio within both Florida and the cold storage sector.”
The facility was originally developed between 1983 and 1987 and expanded in 2004. The property sits on approximately 12.6 acres and includes a mix of freezer, cooler and ambient storage space designed to support temperature-controlled food distribution operations.
The property is strategically located near South Florida’s major transportation infrastructure, with access to Interstate 95, Interstate 75 and Florida’s Turnpike, as well as Miami International Airport, Fort Lauderdale-Hollywood International Airport, PortMiami and Port Everglades.
JLL advised seller and arranged acquisition financing for the transaction. Troutman Pepper Locke LLP and Winston Taylor LLP served as legal counsel to the joint venture.
About BGO and BGO Cold Chain
BGO is a leading, global real estate investment management advisor and a globally-recognized provider of real estate services. BGO serves the interests of more than 750 institutional clients, and had, together with Bell Partners Inc., which was acquired by Sun Life and combined with BGO on July 2, 2026, approximately US$100 billion of assets under management (as of June 30, 2026) and expertise in the asset management of office, industrial, multi-residential, retail and hospitality property across the globe. BGO has offices in more than 25 cities across twelve countries with deep, local knowledge, experience, and extensive networks in the regions where we invest in and manage real estate assets on behalf of our clients in primary, secondary and co-investment markets. BGO is a part of SLC Management, the institutional alternatives and traditional asset management business of Sun Life.
BGO Cold Chain is the firm’s dedicated business line representing its global breadth of cold storage real estate investment management, asset management, and development activity on behalf of its institutional investors. BGO Cold Chain is amongst the largest cold storage investors in the world, with approximately 30 million square feet of transaction activity since 2015. Leveraging deep expertise in cold storage real estate, BGO Cold Chain has extensive experience in leading build-to-suit and speculative projects, with an established track-record for delivering high-performance, sustainable solutions.
For more information, please visit www.bgocoldchain.com
About Banner Property Group
Banner Property Group is a real estate owner and operator active throughout the eastern half of the U.S. across multiple sectors including cold storage and industrial warehouses. Banner focuses on infill opportunities that offer attractive relative value and are well positioned for long-term growth and appreciation. For more information, please visit www.bannerpg.com.
Media Contacts
Rahim Ladha
Global Head of Communications, BGO
media@bgo.com
